From a terrific Gawker piece, look at these magazine covers. Notice anything?
They’re all the same!
Magazines are designed to sell advertising, not good financial advice. Yet millions of Americans get their kooky investing ideas from so-called personal-finance magazines. This is why people think “stocks=investing” and are fascinated by alternative investments, but don’t know the first thing about setting up a system to automate their finances and investing.
I’ve written extensively on the media and personal finance:
- The media is atrociously bad at prediction and I’m sick of it
- This is why you should ignore daily news on money
- The 5 groups to blame for our financial illiteracy
…and other rants about dumb people.